American International Group Inc. has been hit with $13 billion in write-downs over the past year stemming from the securities lending accounts of 12 of its insurance units.
Asia will continue to be an attractive place to invest despite market losses of up to 40% this year, portfolio managers said at athe Morningstar Inc. conference.
The domestic financial crisis is not yet over, and its full impact has yet to be felt, legendary investor Jean-Marie Eveillard said.
Consumer spending increased in May as the stimulus-package rebate checks increased purchasing power and inflation forced them to pay more.
They find opportunities in energy and other commodities, and even in financials.
Barclays Capital said the possibility of increased inflation has replaced credit risk as the top issue facing the global financial markets.
Sales of existing homes increased 2% in May to a seasonally adjusted rate of 4.99 million units, according to the National Association of Realtors in Chicago.
Boomers, already strapped for cash, stand to lose even more money by caring for their parents, according to Fidelity Investments in Boston.
Nearly half of pre-retirees believe they can withdraw 10% annually from their retirement savings, according to MetLife’s Mature Market Institute survey.
Sales of new single-family homes fell 2.5% last month to an adjusted annual rate of 512,000, according to the Department of Commerce.
Women want to learn about preparing for retirement, but advisers who want to attract that market need to adapt their practices.
A.M. Best Co. today downgraded Security Benefit Life Insurance Co.’s financial strength rating to A- from A.
Legislation that would save about 25 million taxpayers from paying the AMT this year was approved today by a vote of 233-189 in the House.
Sun Life Financial Inc.’s U.S. division in Wellesley, Mass., today introduced Retirement Blueprint, which helps advisers expand their role with their clients.
Equity index annuities could be regulated as securities if a proposal approved 3-0 today by the Securities and Exchange Commission is finalized.
The Federal Reserve Board held the economy’s key interest rate at 2% today in a bid to keep inflation in check.
Fidelity's IRA market share is about 13.7% as of the fourth quarter of 2007, up from 12.7%, the previous year, according to Cerulli.
"Consumer confidence may be nearing a bottom,” said the director of The Conference Board.
U.S. economic growth will be subdued this year, but the economy will begin to pick up in 2009, according to the SIFMA Economic Advisory Roundtable.
The employee benefits provider was fined for for failing to report special payments to an insurance broker.
